Trendline Trader
Expert Advisor for Metatrader 4 platform that will open trade(s) when currency price touch/cross your trend or horizontal lines. EA is designed to work with two lines. You will have manually draw trendlines or horizontal lines on the chart.
Trendline Trader features
- EA licence works on 1 Real account and any Demo account
- EA is designed for Metatrader 4 platform
- Can handle two lines: cross from below for BUY signal, the other from above for SELL signal
- Sets different line colors when they are detected by EA
- Sets different line colors when they are crossed up or down
- EA can open trade(s) immediately or only on candle close
- Stop Loss and/or TakeProfit can be set by horizontal lines
- Trailing Stop and Breakeven functions included
- Advanced Money management function
- Smart Breakout © technology will redraw trendline if the price only touch it but do not cross
- All settings displayed on the chart in the left-top corner
- Alert features included from Trendline Alert EA
- Many custom settings can be configured to fit your needs
- Any desirable features can be added individually for additional payment if you purchase unlimited version
Price for lifetime license €200 EUR for single account
We will contact You after we receive payment
How to use Trendline Trader EA?
- Draw trendline/horizontal line on the chart using Metatrader 4 drawing tools
- Open line settings window and set object/line name to BuyLineName or SellLineName
- EA will change line(s) color after they are detected. If you draw the line(s) correctly this should happen in a few seconds.
- EA will open trade and alert/play-sound/send-email when price cross the line(s)
- EA will change crossed line(s) color
- EA will open BUY trade when price cross the BuyLineName line
- EA will open SELL trade when price cross the SellLineName line
- You can draw additional horizontal lines that will tell EA where to place stop loss and/or take profit
- Lot Size, Stop Loss, Take Profit and any other settings are controlled by special EA settings which are described below
Some of the Trendline Trader EA Inputs
AllowBuyTrades and AllowSellTrades
there you can set which trades EA can open
there you can set which trades EA can open
TradeEveryBreakout
if this feature is set to true EA will open trade every time price cross the line regardless if there are any trades already opened or not
if this feature is set to true EA will open trade every time price cross the line regardless if there are any trades already opened or not
AllowHedge
if this feature is set to false EA will not open sell trade if there are any buy trades running or vice verse
if this feature is set to false EA will not open sell trade if there are any buy trades running or vice verse
CloseOppositeOnSignal
if this feature is set to true EA will close opposite trades before opening new one
if this feature is set to true EA will close opposite trades before opening new one
MaxDistanceFilterPips
you can set maximum distance allowed between entry price and stop loss value. If the distance will be bigger, EA will not open trades. This feature can be used when you use horizontal lines to set stop loss. By default this value is disabled, set to zero.
you can set maximum distance allowed between entry price and stop loss value. If the distance will be bigger, EA will not open trades. This feature can be used when you use horizontal lines to set stop loss. By default this value is disabled, set to zero.
TradeQuantity
this is where you set how many trades EA should open at once
this is where you set how many trades EA should open at once
StopLossPips and TakeProfitStepPips
there you can set stop loss in pips and take profit step in pips. If you set EA to open more than one trade using TradeQuantity, they will have different take profit. To use these settings StopType must be set to 1. If StopType=2 EA will use horizontal lines to set Stop Loss and Take Profit.
there you can set stop loss in pips and take profit step in pips. If you set EA to open more than one trade using TradeQuantity, they will have different take profit. To use these settings StopType must be set to 1. If StopType=2 EA will use horizontal lines to set Stop Loss and Take Profit.
TrailStopStartPips and TrailStopMovePips
EA will activate Trailing Stop function when trade goes in profit by pips value set in TrailStopStartPips. Once activated EA will move stop loss in profit every pips value set in TrailStopMovePips
EA will activate Trailing Stop function when trade goes in profit by pips value set in TrailStopStartPips. Once activated EA will move stop loss in profit every pips value set in TrailStopMovePips
BreakEvenPips
sets how many pips trade should get into profit before stop loss is moved to the entry price
sets how many pips trade should get into profit before stop loss is moved to the entry price
UseMoneyManagement
if this feature is set to true EA will use special function to calculate lot size. Otherwise it will use FixedLotSize value. Use Risk_Percent variable to set risk in percent. It is calculated using stop loss. If you want MM function to use only specified amount of account balance for calculation you should use AccountBalanceOverride variable
if this feature is set to true EA will use special function to calculate lot size. Otherwise it will use FixedLotSize value. Use Risk_Percent variable to set risk in percent. It is calculated using stop loss. If you want MM function to use only specified amount of account balance for calculation you should use AccountBalanceOverride variable
StartTradingBrokerTime and StopTradingBrokerTime – allows you to set trading session hours. Use format HH:MM. Trades can be opened only during trading session. If CloseALLOpenPositionsAtEnd is set to true, EA will close all open trades at the end of trading session.
BuyLineName and SellLineName
this is where you set line object names so EA would know how to identify them
this is where you set line object names so EA would know how to identify them
BuyLineColor and SellLineColor
EA will set line colors to the values set in these variables once line(s) are detected. This is very useful as you will know that EA found your lines
EA will set line colors to the values set in these variables once line(s) are detected. This is very useful as you will know that EA found your lines
CrossedBuyLineColor and CrossedSellLineColor
EA will set line colors to the values set in these variables once line(s) are crossed. This way it is easier to identify which line(s) were crossed when you go through charts
EA will set line colors to the values set in these variables once line(s) are crossed. This way it is easier to identify which line(s) were crossed when you go through charts
WaitForCandleClose
if this feature is set to True EA will wait for candle to close to check if lines has been crossed, otherwise EA will alert immediately
if this feature is set to True EA will wait for candle to close to check if lines has been crossed, otherwise EA will alert immediately
UseSmartBreakout
if this feature is set to True EA will use Smart Breakout © technology. EA will redraw trendline if the price only touch it but do not cross
if this feature is set to True EA will use Smart Breakout © technology. EA will redraw trendline if the price only touch it but do not cross
AdjustStopLossLines
if this feature is set to true EA will use Smart Breakout © technology on stop loss and take profit lines. EA will redraw SL/TP line(s) on every new candle bar if necessary.
if this feature is set to true EA will use Smart Breakout © technology on stop loss and take profit lines. EA will redraw SL/TP line(s) on every new candle bar if necessary.
StopLossLineNameBuy, TakeProfitLineNameBuy, StopLossLineNameSell and TakeProfitLineNameSell
this is where you set SL/TP line object names for the BUY and SELL trades. This way EA can identify them.
this is where you set SL/TP line object names for the BUY and SELL trades. This way EA can identify them.
StopType
you can choose between two different Stop Loss and Take Profit methods. If this value is set to 1, EA will use StopLossPips and TakeProfitStepPips settings to calculate Stop Loss and Take Profit. If StopType value is set to 2, then EA will use horizontal lines on chart to set stop loss and take profit. SL/TP line names should be set by special settings.
you can choose between two different Stop Loss and Take Profit methods. If this value is set to 1, EA will use StopLossPips and TakeProfitStepPips settings to calculate Stop Loss and Take Profit. If StopType value is set to 2, then EA will use horizontal lines on chart to set stop loss and take profit. SL/TP line names should be set by special settings.
TakeProfitStopLossRatio
if you do not use TP line, but use SL line, EA can set take profit based on your SL line and TakeProfitStopLossRatio. By default it is set to 0.8, so this means that if your SL line is 100 pips away from the entry price, then 100 x 0.8 = 80 pips value will be used as take profit.
if you do not use TP line, but use SL line, EA can set take profit based on your SL line and TakeProfitStopLossRatio. By default it is set to 0.8, so this means that if your SL line is 100 pips away from the entry price, then 100 x 0.8 = 80 pips value will be used as take profit.
Alerts
if this feature is set to True EA will show popup message when lines are crossed
if this feature is set to True EA will show popup message when lines are crossed
Sounds
if this feature is set to True EA will play a sound specified in SoundFile when lines are crossed
if this feature is set to True EA will play a sound specified in SoundFile when lines are crossed
SendEmail
if this feature is set to True EA will send an email when lines are crossed
if this feature is set to True EA will send an email when lines are crossed
MagicNumber
this is where you choose what magic number must be set for the trades
this is where you choose what magic number must be set for the trades
In the above screen shot you can see a trendline that a trader created on the chart. It was named “sell” so the Trendline Trader would recognize it.
Price broke the trendline and Trendline Trader opens a sell trade. A red line named “sell-sl” price was used as Stop Loss. Take Profit was set 80% of the Stop Loss size. EA opened 2 trades. All this can be configured to fit your needs. Trendline was adjusted by Smart Breakout © technology functions to avoid false breakouts.
Price goes down to reach the first Take Profit level and Trailing Stop activates. We already profited from this trade and have one trade running with Trailing Stop to get the maximum profit available.
Now lets see how this would have gone without Smart Breakout © technology enabled.
See how price touched trendline and on the next candle it broke the trendline. That was a false breakout, but EA still opens a trade because candle opened on the other side of the trendline. It is clearly seen that trendline could be adjusted to get better entry and that is exactly what Smart Breakout © technology would do.
Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.